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it is the secret sauce that's built the american economy. >> what about the fiscal cliff? you brought it up. do you think they will take us over the cliff at this point and how damaging if that happens would it be not only to entrepreneurship but to the country as a whole? >> i think it will be troubling. hopefully they won't. i know there is a lot of posturing and hopefully a lot of quiet negotiations happening and hopefully there will be a resolution that can build pore. it is important not just for the fiscal cliff. i think the country and actually the world is looking at washington saying can these guys work together in a collaborative bipartisan way to deal with fiscal issues, our entrepreneurship issues, we have to start building that bipartisan support. congress did come together, republicans and democrats, house and senate with support of the white house to pass the jobs act around access to capital for entrepreneurs so we have some example of that. hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up a
it is the secret sauce that's built the american economy. >> what about the fiscal cliff? you brought it up. do you think they will take us over the cliff at this point and how damaging if that happens would it be not only to entrepreneurship but to the country as a whole? >> i think it will be troubling. hopefully they won't. i know there is a lot of posturing and hopefully a lot of quiet negotiations happening and hopefully there will be a resolution that can build pore. it is...
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the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a month in long-term securities. >> okay. where are they getting the money to buy that? >> they're making it. >> they're just printing it. >> not even printing it. you wouldn't have to print it today, it's an electronic thing. they're typing it essentially. >> will the resolution of the fiscal cliff and even some progress on our long-term problems, knowing that at best we're just putting off austerity, sooner or later it's coming, right? higher taxes and lower government spending, right? you combine that with reinhardt, rogoff and the idea we're in a 2% world all of a sudden, would doing the fisc
the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a...
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Nov 30, 2012
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economy to fall off the fiscal cliff, 2 million jobs will be lost. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-
economy to fall off the fiscal cliff, 2 million jobs will be lost. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. [ male announcer ] this december, remember -- what starts with adding a friend... ♪...
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Dec 3, 2012
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going over the fiscal cliff could cause major problems for state economies. which face the biggest threat from the potential tax hikes? joining us on the phone is laura porter, managing director at the public finance department, sector head for the state ratings group which focuses on state credits across the country. and focuses on a report, laura, looking granularly at this. good morning. >> good morning. thanks for having me. >> in general, you argue that a lot of ratings on the state front will remain unchanged no matter what. why is that? >> we feel states are fundamentally very strong credits, have strong control over their revenues and spending and the vast majority have shown the ability and willingness to adjust. so we think that the biggest and immediate threat is the fiscal cliff and what that can mean for state revenues, which quickly react to changing economy. >> you make the point -- surprise to no one, you have an unusually high degree of uncertainty in this outlook and that's because -- walk us through a scenario. we go over the cliff, and we
going over the fiscal cliff could cause major problems for state economies. which face the biggest threat from the potential tax hikes? joining us on the phone is laura porter, managing director at the public finance department, sector head for the state ratings group which focuses on state credits across the country. and focuses on a report, laura, looking granularly at this. good morning. >> good morning. thanks for having me. >> in general, you argue that a lot of ratings on the...
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. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations. best of all, this plan has the lowest part d premium in the united states -- only $15 a month. open enrollment ends december 7th. so call today or visit your local walgreens. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. home of the legendary grand prix circuit. the perfect place to bring the all-new cadillac ats to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3
. >>> some folks worried now about the fiscal cliff. one economist worried that a budget deal will actually hurt the economy and send unemployment sky-high. i'll hear what he has to say up next. [ male announcer ] introducing... a new way to save on your prescriptions. it's the aarp medicarerx saver plus plan from unitedhealthcare. with this plan, you can get copays as low as a dollar through a preferred network pharmacy like walgreens -- where you'll find 8,000 convenient locations....
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Dec 7, 2012
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: vice president biden was confident that this deal will get done because he's optimistic genetically. says if everyone can act like adults and can reach an agreement, the up side will be much greater than the down side. >> any indication when there might be a presidential meeting with the speaker? >> reporter: we don't know at all. there has been one phone call this week. white house aides saying so far they're not making announcements about meetings or phone calls. >> they need to meet to resolve this. maybe their teams and staffers could do some advance work but the clock is ticking. dan lothian, thank you. >>> president obama's top campaign strategist is here in a few minutes. david axelrod did something today he hasn't done in decades. look at that, before and after. he's ready to challenge a member of cnn's political team to do the same thing. stand by. >>> and take a look at this. we're going to tell you why the driver says she didn't stop ou
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: vice president biden was confident that this deal will get done because he's optimistic genetically. says if everyone can act like adults and can reach an agreement, the up side will be much greater than the down side. >> any indication when there might be a presidential meeting with the speaker? >> reporter: we don't know at all. there...
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Nov 30, 2012
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even if there is a fiscal cliff hit to the economy, they are in better shape to survive it. the bread and butter were the suvs, big cars. a lot of car enthusiasts and people like me love to look at expensive sports cars like the chevrolet camaros. they have switched to, what is selling well is very small cars like this 2013 chevrolet spark. you can see the price tag here, very recession, post recession conscious. $15,000 for this car. now, among the new products offered is an all-electric version of the spark. it will only be sold in california and oregon, initially. some of the innovations here, you will be able to charge this car in 20 minutes, up to 80% of its charge. gm not saying how far it will go on the charge, somewhere under 100 miles. this is definitely a commuter car. this is the mix the auto makers are going to. smaller cars is what's driving the industry right now. >> does it appear to be business as usual in terms of car buyers or how does the situation in washington affect this year's auto show? a lot of people don't know what their tax rates are going to be n
even if there is a fiscal cliff hit to the economy, they are in better shape to survive it. the bread and butter were the suvs, big cars. a lot of car enthusiasts and people like me love to look at expensive sports cars like the chevrolet camaros. they have switched to, what is selling well is very small cars like this 2013 chevrolet spark. you can see the price tag here, very recession, post recession conscious. $15,000 for this car. now, among the new products offered is an all-electric...
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Dec 4, 2012
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also, republicans are now out with a counteroffer on the fiscal cliff. congressman becerra is going to join us. republican ron johnson from the state of wisconsin will discuss the fiscal cliff and the negotiations for that, as well. plus the truth about all those myths that your parents told you. should you run with scissors? no, of course not. can you swim after you eat? no, of course not. the all-time jeopardy champion ken jennings has a new book out where he researchers all these myths and breaks it down. >> it's so funny. >> yes, yes. it's ahead this morning at the top of the hour on "starting point." >> oh, wow. thanks soledad. >> coming up, about catherine duchess of cambridge, right? and her royal bun in the oven and how we now have eight more months of speculation whether it's a boy or a girl, what they're going to make it. we're going to talk to elizabeth cohen when morning sickness is so terrible you go to the hospital. >> and i'm also curious about extreme morning sickness means it could be twins? elizabeth cohen is going to have all the infor
also, republicans are now out with a counteroffer on the fiscal cliff. congressman becerra is going to join us. republican ron johnson from the state of wisconsin will discuss the fiscal cliff and the negotiations for that, as well. plus the truth about all those myths that your parents told you. should you run with scissors? no, of course not. can you swim after you eat? no, of course not. the all-time jeopardy champion ken jennings has a new book out where he researchers all these myths and...
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economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven recessions in three of them, jobs continued to grow in to the recession. >> his group bases this on four economic indicators. let me show you. industrial production, that's all the stuff, top left, all the stuff made in the u.s. personal income, you know what that is, sales and employment. look at those lines. based on official government data this year they show a drop off in three of the four indicators starting in july. only employment is steady. that's july. that means we're in a recession right now. may sound obvious to some of you or ridiculous to others but when it comes to determining recessions, few have a better track record than ecri. back in 2001, the group predicted a recession when the vast majority of economists said i
economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven recessions in three of them, jobs continued to grow in to the recession. >> his group bases this on four economic indicators. let me...
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i've been warning you for months about the fiscal cliff, the economic storm of our own making. today, we saw a report indicating that u.s. manufacturing essentially ground to a halt in november. one of the culprits was clearly the uncertainty for business that has been created by this fiscal cliff threat, orders for new goods are flat. factories are cutting workers. this can be fixed. it is reversible. but the signs are clear that the damage is being done. quite a different story by the way over in china where manufacturing output, which had been slowing, picked up in november. it had months of slowdown. now, back to washington. what are the chances that lawmakers in washington will act in time to avert the fiscal cliff? if you go by what both sides are saying right now, not great. >> what we're not going to do is extend the tax cuts for the wealthiest americans. those cost a trillion dollars over ten years and there is no possibility that we're going to find a way to get our fiscal house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's
i've been warning you for months about the fiscal cliff, the economic storm of our own making. today, we saw a report indicating that u.s. manufacturing essentially ground to a halt in november. one of the culprits was clearly the uncertainty for business that has been created by this fiscal cliff threat, orders for new goods are flat. factories are cutting workers. this can be fixed. it is reversible. but the signs are clear that the damage is being done. quite a different story by the way...
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Dec 1, 2012
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. >>> well, that fiscal cliff is looming. still, we'll wade through the differences between the lawmakers and see what sticking points are threatening to stall our economy. >>> but first, last year we introduced our top ten cnn hero bruno sirato, a west coast chef, honored to serving free feels to kids in southern california. >> and since then he's taken his generosity to a whole new level. anderson cooper has more. >> who liked the pasta? >> me. >> every night chef bruno serves free moles to 300 motel kids in anaheim, california. it's work that he was honored for last week as a top ten cnn hero. >> one of the most amazing moments in myly. after the cnn show a lot of people call me, what can we do for you? >> but it was bruno who wanted to do more to help families living in area motels. >> send the kids back to the mow tell, all of a sudden there's a sad moment because i know where they go back. >> you guys can all share those markers. sit right here and color. >> a hard life to escape. just ask the gutierrez family who lived
. >>> well, that fiscal cliff is looming. still, we'll wade through the differences between the lawmakers and see what sticking points are threatening to stall our economy. >>> but first, last year we introduced our top ten cnn hero bruno sirato, a west coast chef, honored to serving free feels to kids in southern california. >> and since then he's taken his generosity to a whole new level. anderson cooper has more. >> who liked the pasta? >> me. >>...
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>> i don't see it. >> reporter: like everyone, he wants to see congress act to avoid the fiscal cliff and the tax hike that is come with it. >> what would tax increases mean for you in this business? >> on the gold buying end it might be goods. people are going to need to sell their gold to pay their taxes. >> reporter: he also knows it would hurt his customers' buying power. he certainly doesn't want to pay more in taxes, but he is open to them. how far, he is adamant that's not the right solution. >> you have to spend less. >> two small businesses in the same small town staring at the same fiscal cliff. both with a message for washington. >> i would love for them to come here and just spend a day, spend a week just to know what small business goes to. >> do your job. make a decision. >>> now, suzanne, the exception of just a few extra tax breaks, small businesses are pretty much taxed just like me and you, just like individuals. if we fall off that fiscal cliff, there is no doubt that their taxes are going to go up, but what might hurt them even more than increased taxes, the expert
>> i don't see it. >> reporter: like everyone, he wants to see congress act to avoid the fiscal cliff and the tax hike that is come with it. >> what would tax increases mean for you in this business? >> on the gold buying end it might be goods. people are going to need to sell their gold to pay their taxes. >> reporter: he also knows it would hurt his customers' buying power. he certainly doesn't want to pay more in taxes, but he is open to them. how far, he is...
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of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy these ve
of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even...
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>> you know, this will have a big saying in whatever they vote to do to avoid the fiscal cliff. tea party type groups saying it is going too far in raising revenues which is interesting because ryan is considered to be a hero to many in the tea party movement. >> some conservatives actually complaining because it was news to them, the boehner plan and the people who signed it, it didn't include enough different points of view, enough people in the party. all right. paul steinhauser, nice to see you, paul. >> thanks. >> 34 minutes part the hour. >>> new york city police say the man being requested for allegedly pushing a man into the path of an oncoming train is implicating himself. there it is for you to see this be they're arguing on the subway platform. a "new york post" photographer who shot a controversial front-page photo of the man trying to climb up from the tracks is explaining himself. he's writing in today's paper, he says it's unfair for people to condemn him. he says, quote, i can't let the armchair critics bother me. they were not there. they have no idea how quickl
>> you know, this will have a big saying in whatever they vote to do to avoid the fiscal cliff. tea party type groups saying it is going too far in raising revenues which is interesting because ryan is considered to be a hero to many in the tea party movement. >> some conservatives actually complaining because it was news to them, the boehner plan and the people who signed it, it didn't include enough different points of view, enough people in the party. all right. paul steinhauser,...
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host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the negotiation table. it is tough to consider the full range of decisions. what we find time and time again is that the education and skills component of helping unemployed workers get back into the workforce is a big obstacle. we have 40 programs on the federal level to deal with that, but based on analysis out of rutgers university, is usually people that have been able to find their own education path and get their own skills and out of these government programs have been the most successful. that is a problematic dynamic. host: lisa is next from texas on the independent line. good
host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the...
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conference secretary voicing her thoughts on the fiscal cliff negotiations yesterday. and we want you to address the issue of what the g.o.p. is raising, which is address the spending problem. 202 is the area code for our numbers. that's our question this morning in this first segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning. g.o.p. forget tax rates in talks on the deficit, let's look at the spending. the speaker's swift rejection of an idea floated by representative tom cole of oklahoma, a respected party strategist and former chair of the house g.o.p. campaign committee came as the republicans voiced increasing concerns over the debate of the so-called fiscal cliff. boehner said it's time for them to get serious about the spending problem that our country has. republicans complain that for all the talk of coming up with a balanced budget plan, he has made little effort to identify specific proposals beyond incr
conference secretary voicing her thoughts on the fiscal cliff negotiations yesterday. and we want you to address the issue of what the g.o.p. is raising, which is address the spending problem. 202 is the area code for our numbers. that's our question this morning in this first segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning....
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going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president, congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernbile] it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we know wh
going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's...
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maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in mind, every missile fired in libya cost taxpayers $9 million. i lived during the cuban crisis, castro --they need to let most countries solve their own problems. thank you for letting me call. host: we want to remind our viewers and listeners that today is world aids day. we have this story from "the huffington post." they are also putting up on the white house today red ribbon. you can see more pictures of that on the internet. let's take our last call from harrison on the line for democrats. your thoughts about the fiscal cliff and talks being at a stalemate. caller: i am a democrat, and i di
maybe our economy can come back. host: we want to let our folks know about the fiscal cliff page. if you want to find out more about the issue of the fiscal cliffs 02 c- span.org/fiscalcliff. you can find out all the information you ever wanted to know about the fiscal cliff. this is the lead editorial in the financial times. back to the phones. billy is on the line for independents calling from florida. caller: i think the fiscal cliff is inevitable. they need to reform everything. keep in...
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going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernible] >> it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we k
going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's...
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that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. that is the only signal we can send. it is the right signal to send to investors that we're serious about getting our financial house in order. german, thank you. this is your last committee meeting -- chairman, thank you. this is your last committee meeting and you will be missed. >>: back to the analogy of the avalanche, a -- going back to the analogy of the avalanche, when we had the subprime crisis, and there was no warning. likewise, we did have the same type of avalanche come tomorrow. there is no more confidence, nobody buys are debt. we would have increased interest rates and huge economic problem. we have two things in front of the spread not only the fiscal slope, but also the debt ceiling. treasury estimates at the end -- we have until the end of february. in solving it, would be better to put the debt ceiling in the package with the fiscal slope for a comprehensive solution? or would it be better to do them separately? >>
that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. that is the only signal we can send. it is the right signal to send to investors that we're serious about getting our financial house in order. german, thank you. this is your last committee meeting -- chairman, thank you. this is your last committee meeting and you will be missed. >>: back to the analogy of the avalanche, a -- going...
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we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican campaign committee, said just the other day, and i believe you're -- in i believe your web meeting that he believes that this ought to be done. we ought to give the 98% assurances. we can debate and the prevailing side will win. but i don't think there's disagreement on the 98%. i think we agree on that as i said before the election and i said after the election, we need to move forward on that. that's something that i think -- on which you and i can agree, the democrats and republicans in this house can agree, that the senate an agree to. there was a bipartisan vote to le
we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican...
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and will they take the economy with them over the cliff? the fiscal cliff confronting us threatens an economic mess, half of which could be resolved in one fell swoop by passing the middle class tax cuts. the senate has already acted, the president is waiting to sign it. republicans should join with democrats and give 98% of americans and 97% of small businesses the certainty that they won't face a tax increase on january 1. colleagues, republicans as well as democrats, sign now, the signal that america needs. the speaker pro tempore: the gentleman from michigan yields back. for what purpose does the gentleman from south carolina seek recognition? without objection, the gentleman from south carolina is recognized for one minute. mr. wilson: mr. speaker, yesterday speaker boehner sent a letter to the president in response to his unreasonable proposal to how congress can avert the fiscal cliff. shortly after the election, the house republican leadership presented the president with a balanced framework of coupling spending come cutlers and re
and will they take the economy with them over the cliff? the fiscal cliff confronting us threatens an economic mess, half of which could be resolved in one fell swoop by passing the middle class tax cuts. the senate has already acted, the president is waiting to sign it. republicans should join with democrats and give 98% of americans and 97% of small businesses the certainty that they won't face a tax increase on january 1. colleagues, republicans as well as democrats, sign now, the signal...
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we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican campaign committee, said just the other day, and i believe you're -- in i believe your web meeting that he believes that this ought to be done. we ought to give the 98% assurances. we can debate and the prevailing side will win. but i don't think there's disagreement on the 98%. i think we agree on that as i said before the election and i said after the election, we need to move forward on that. that's something that i think -- on which you and i can agree, the democrats and republicans in this house can agree, that the senate an agree to. there was a bipartisan vote to le
we don't want to go over the fiscal cliff. that would be bad for the economy. we both think, i believe, i hope, that we need to have a balanced agreement so we will not go over the cliff that would be bat for -- bad for the country, bad for the american people, we don't want to do that. the gentleman in my view doesn't not want to do that. put one way to give some confidence which is very important to the growth of the economy, is to assure, as tom cole, your former chairman of the republican...
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below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go up just to save 2%. it just does not cut it. it is a bad move politically and bad for the country. host: polloi in johnsonville, virginia. -- floyd. caller: i was thinking about the fiscal cliff. i don't think that's the problem at. the problem is when we fell off the moral cliff. our president said gay marriage was ok. and america killing so many babies. side,e get back on god's everything else will take care of itself. that's the way it is. a guy said it seemed like christians are down and out. let me tell you, christians are the happiest people there is, because we have
below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go...
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and the so-called fiscal cliff. he spoke to reporters on capitol hill. this is about 10 minutes. >> good afternoon, everyone. the president traveled to pennsylvania to visit a small business today to talk about the fiscal cliff. unfortunately, the president and members of his own party who were proposing that we let many small businesses -- as in hundreds of thousands of them -- go over the fiscal cliff. simply put, that's why we don't have an agreement as yet. they said yesterday, this is not a game. i used to be a small business owner. small business owners are regular men and women from all backgrounds who, in today's economy, are facing challenges on a daily basis. the president's tax increase would be another crippling blow for them while doing little to nothing to solve the bigger problem here, our national deficit and national debt. this debt doesn't exist because we don't tax small businesses enough, it exists because washington continues to spend too much and raising taxes on small businesses instead of tak
and the so-called fiscal cliff. he spoke to reporters on capitol hill. this is about 10 minutes. >> good afternoon, everyone. the president traveled to pennsylvania to visit a small business today to talk about the fiscal cliff. unfortunately, the president and members of his own party who were proposing that we let many small businesses -- as in hundreds of thousands of them -- go over the fiscal cliff. simply put, that's why we don't have an agreement as yet. they said yesterday, this...
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. >> as we continue to try to solve the fiscal cliff, the thing week of always continued to look at is our economy. wanting it to continue to grow. today in the whip's office we'll have small family-owned businesses in there talking about ways that we can protect the family business, continue to grow, while at the same time make sure we solve this fiscal cliff. look, each and every day, as we walk the halls, you continue to ask questions. you want the answers solving the fiscal cliff. we put an answer on the table. the president now has to engage. i think the next 72 hours are critical. if he sits back and continues to play politics, that will give you an answer of where we're going. this is an opportunity for this country to lead. this is an opportunity for the president to lead. >> at these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem. it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate and yet he keeps demanding t
. >> as we continue to try to solve the fiscal cliff, the thing week of always continued to look at is our economy. wanting it to continue to grow. today in the whip's office we'll have small family-owned businesses in there talking about ways that we can protect the family business, continue to grow, while at the same time make sure we solve this fiscal cliff. look, each and every day, as we walk the halls, you continue to ask questions. you want the answers solving the fiscal cliff. we...
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it's good for everybody, the economy, fiscal cliff and it would set a tone here in washington that we can get something done when we work together cooperatively. so we've been explicit, specific. we look forward to specificity from republicans. >> there are now countdown clocks -- [inaudible] those of us who have been lucky enough to study the legislative body we have an idea of how things go. there's more and more lawmakers who look at it and say it's december 15th. if you have an agreement and have the time necessary for it to be read, digest it, debated before christmas. the president shares that timeline. it's not december 1st. it's something of a practical matter much earlier than that. is that is that in any way create a sense of urgency? >> the sooner the better that we receive specificity from republicans about what it is they would do on revenues, for example, what it is they want on spending cuts, for example. we will be able to move forward and we look forward to doing that. in terms of the congressional club, i too enjoyed congress when i had the opportunity and many which
it's good for everybody, the economy, fiscal cliff and it would set a tone here in washington that we can get something done when we work together cooperatively. so we've been explicit, specific. we look forward to specificity from republicans. >> there are now countdown clocks -- [inaudible] those of us who have been lucky enough to study the legislative body we have an idea of how things go. there's more and more lawmakers who look at it and say it's december 15th. if you have an...
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cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking of unsustainable, in the nixon white house in which i served, the chairman of the council, if something is unsustainable, he says it continues to stop. or if you don't like that, if your worst eyes, i suggest that you does not dismount. in lieu of that retirement, i decided to set up the foundation to increase awareness of long-term debts and get solutions. never in my experience have these things are more closely linked, in the words of mike mullen. we are endlessly reminded that everything must be on the ta
cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking...
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cliff. that is the tax rates that will apply next year. arguably, you don't have to take action this year, you have the whole of next year during which you can reach resolution to that issue. now, the only reason why i think that's an extraordinarily bad idea is i think it would be viewed quite unfavorably by the financial markets. and so you could see a reaction. and it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that year. >> host: we'll go to jeff in tampa, florida, independent caller. >> caller: good morning, how you doing? >> host: good morning, sir. >> caller: yes, i have a question for mr. buckley, and this is more -- it may be a little generic, but something that a couple of my friends and i have talked about and just trying a basic understanding of. instead of having an income tax, has there ever been any discussion about having a national or a federal sales tax to help offset so this way everyone from the ric
cliff. that is the tax rates that will apply next year. arguably, you don't have to take action this year, you have the whole of next year during which you can reach resolution to that issue. now, the only reason why i think that's an extraordinarily bad idea is i think it would be viewed quite unfavorably by the financial markets. and so you could see a reaction. and it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that...
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i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limiting deductions, we can make the tax code -- tax code simpler and fairer to stimulate growth in our economy. markets get the kind of certainty they need to invest, to grow and to hire. it's a growing economy, a growing economic base that creates more jobs and revenue, not higher taxes. the simple fact is, we must make america a great place to do business again. our pro-growth strategies in my home state of north dakota have broadened our economic base and raised revenue without raising taxes. that has resulted in the lowest unemployment rate in the nation. growing personal income and rather than a deficit, a budget surplus. in addition to pro-growth tax reform, we also need to start a fair and thoughtful process to reform entitlement prog
i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limiting deductions, we can make the tax code -- tax code simpler and fairer to stimulate growth in our economy. markets get the kind of certainty...
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he's making a speech on the impact the fiscal cliff would have on americans at home. secretary of state clinton is warning not eaching a budget deal would have an impact on global economy global security. she gave a speech at the brookings institute yesterday and said she's hearing concerns from other countries about the choices we're making when it comes to the economy and it's essential that lawmakers in washington make a meaningful deal. we're back after the break. stay with us. i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help you fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a to
he's making a speech on the impact the fiscal cliff would have on americans at home. secretary of state clinton is warning not eaching a budget deal would have an impact on global economy global security. she gave a speech at the brookings institute yesterday and said she's hearing concerns from other countries about the choices we're making when it comes to the economy and it's essential that lawmakers in washington make a meaningful deal. we're back after the break. stay with us. i want to...
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[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." you know who's coming on to me now? you know the kind of guys who do like verse mortgage commercials? those types are com
[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from...
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it's one of the reasons why the fiscal cliff could be as bad for the economy. if state and local governments are continue to cut back or not spend, still hoarding catchsh and consumers aren't spending ex is for a new iphone the one positive input to the gdp right now, maybe not in six months but right now, the one positive input is the fed recall government. if the federal government through the fiscal cliff is going to withdraw $600,000,000,000, which is what the live would do, it will throw us back into a recession. >> that's just what we don't need now. >> bill: i was going to ask you and i think you are getting to it already is what now does president -- two things: what does president obama say he will have an opportunity somewhere today, what does he say about these numbers? two, can he use these numbers to bolster his case for a deal on the fiscal cliff? >> the answer first of all, f they were to dahl me i would say don't take a victory lap because it's 7.7% unemployment. if you are under employed or you have stopped looking or don't have a job at all, y
it's one of the reasons why the fiscal cliff could be as bad for the economy. if state and local governments are continue to cut back or not spend, still hoarding catchsh and consumers aren't spending ex is for a new iphone the one positive input to the gdp right now, maybe not in six months but right now, the one positive input is the fed recall government. if the federal government through the fiscal cliff is going to withdraw $600,000,000,000, which is what the live would do, it will throw...
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>> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the fiscal cliff. this wasn't a campaign issue. no one even talked about it. >> stephanie: right. >> the idea that this is all obama's fault. it has nothing to do with the $3 trillion war paid for with taxes. >> stephanie: eric boehlert remains in the sidecar. we continue with right-wing world next on "the stephanie miller show." >> announcer: it's really weird but it's also the coolest thing i've ever heard in my whole life. >> announcer: it's "the stephanie miller show." that viewers like about the young turks is that we're honest. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. ♪ here she come now say mony mony ♪ >> stephanie: oh you didn't put in the other part. okay. >> i like our s.e.c. license. >> stephanie: 1-800-steph-12 the
>> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the fiscal cliff. this wasn't a campaign issue. no one even talked about it. >> stephanie: right. >> the idea that this is all obama's fault. it has nothing to do with the $3 trillion war paid for with taxes. >> stephanie: eric boehlert remains in the...
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and also how to get our fiscal house in order. michael linden is director for tax and budget policy at the center for american progress. peter, what's happening online? what are people -- >> we're talking about economy. big, big story that is breaking this morning. >> bill: uh-oh. >> apple computers is going to resume manufacturing in the united states. they have all of their products now being built in china and tim cooke, who replaced steve jobs and very rarely gave interviews, gave an interview to nbc he announced next year we'll do one of our existing mac lines in the united states. they're going to start creating some jobs here in america. >> bill: you know, that's a bfd. >> great news. >> seriously. >> bill: it is great news. we knew shortly before he died, steve jobs was at a very small dinner of high tech leaders with president obama in silicon valley and steve jobs says those jobs are never coming back, mr. president. stop talking about it. they ain't coming back. >> he was wrong apparently. >> bill: well, that was his po
and also how to get our fiscal house in order. michael linden is director for tax and budget policy at the center for american progress. peter, what's happening online? what are people -- >> we're talking about economy. big, big story that is breaking this morning. >> bill: uh-oh. >> apple computers is going to resume manufacturing in the united states. they have all of their products now being built in china and tim cooke, who replaced steve jobs and very rarely gave...
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fiscal cliff even with the fiscal cliff. dave: you and i agree with it will take to get the economy growing stronger because we are like-minded with that. you don't like the economic policies the president is proposing. dozen there come a time when those economic policies to stifle the economy and strip it up? >> absolutely. when we look back in history 1970s had big growth in government and when you have big spending like we do today you get weaker growth. france for 40 years has grown numb to% real gdp and 8% unemployment. they think it is normal. the good news is america doesn't think it is normal and you have to keep pounding the table that this isn't normal. it is not good. so do i. the only way to get back up to good growth is to cut the size of the government. i still believe we have eight to ten years even on the crazy course we are on right now before we are anything like one of these european countries. this is still an amazingly powerful entrepreneurial place. i am betting on the entrepreneur and even though the g
fiscal cliff even with the fiscal cliff. dave: you and i agree with it will take to get the economy growing stronger because we are like-minded with that. you don't like the economic policies the president is proposing. dozen there come a time when those economic policies to stifle the economy and strip it up? >> absolutely. when we look back in history 1970s had big growth in government and when you have big spending like we do today you get weaker growth. france for 40 years has grown...
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. >> i am not a fan, by the way, never have been, i thought the fiscal cliff thing was ridiculous in the beginning. no, no, but prefacing my answer to you. stuart: higher taxes of this magnitude on an economy that's already weak with 8% unemployment, you do that and now it's not-- >> no, no, no, i do not believe that raising the marginal tax rates to the clinton rates for the wealthiest among us-- >> i knew you were going to say that, you're comparing a totally different economy. what we have now is 8% unemployment. very sluggish growth and a trillion dollar deficit every year. you propose to raise taxes in that environment and you're not going to get growth. >> don't you understand you need to off set-- if you're serious about debt reduction, i think you are, don't you understand you need revenue and spending cuts. stuart: and how do you get revenues. >> how. >> please, go ahead, go ahead. stuart: it's easy you lower tax rates and keep incentive to work harder. >> we've tried that. stuart: and you can't-- what. >> george bush tried that. look at the deficit we had. stuart: well, wai
. >> i am not a fan, by the way, never have been, i thought the fiscal cliff thing was ridiculous in the beginning. no, no, but prefacing my answer to you. stuart: higher taxes of this magnitude on an economy that's already weak with 8% unemployment, you do that and now it's not-- >> no, no, no, i do not believe that raising the marginal tax rates to the clinton rates for the wealthiest among us-- >> i knew you were going to say that, you're comparing a totally different...
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liz: taxes might not be only thing facing increases from the fiscal cliff. look on your screen. milk prices. could they double if we fail to reach a deal? we're live on a farm we details on that possibility >> i'm sandra smith with your fox business brief. stocks spent the day drifting between gains and losses as investors focused their attention on washington and the fiscal cliff negotiations. amr looking for more time to submit a bankruptcy restructuring plan. the airline along with its creditors has filed a request in a manhattan bankruptcy court to extend its exclusive right deadline to march 11th. earlier this year amr said it would prefer to exit as a stand-alone company but is discussing merger options. >>> long island power authority chairman howard steinberg has reportedly resigned from his post effective immediately. that is according to news day. steinberg's resignation is a latest in string of departures following the criticism of the utility's company performance in the wake of superstorm sandy. that is the latest from the fox business network, giving you the power
liz: taxes might not be only thing facing increases from the fiscal cliff. look on your screen. milk prices. could they double if we fail to reach a deal? we're live on a farm we details on that possibility >> i'm sandra smith with your fox business brief. stocks spent the day drifting between gains and losses as investors focused their attention on washington and the fiscal cliff negotiations. amr looking for more time to submit a bankruptcy restructuring plan. the airline along with its...
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the fiscal cliff was created by politicians who lack the courage to do the best for the american people. and already has done severe damage to the economy. now we have democrats who want to suck money out of the economy in tax and we have rhino republicans in name only who wants spending cuts. both those things will do damag% to the economy and any compromise will damage the economy and push it further into deep recession. neither side discusses the real problem which is the enormous costs of big government. cost in money and regulations and intrusion. neither side discusses that because they are career politicians and big government is their career. dennis: what should republicans do? should they cave and let tax rates go up on the rich or hold out and let the company -- the country go over the cliff? >> they hold out and let the country go over the cliff and aasolutely insure this lending limit, borrowing limit is enforced. to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term l
the fiscal cliff was created by politicians who lack the courage to do the best for the american people. and already has done severe damage to the economy. now we have democrats who want to suck money out of the economy in tax and we have rhino republicans in name only who wants spending cuts. both those things will do damag% to the economy and any compromise will damage the economy and push it further into deep recession. neither side discusses the real problem which is the enormous costs of...
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stuart: are we going to get a fiscal cliff avoid dan deal? >> we may get some form of a deal. we are not going to get a real deal. i think the economy is going to be hurt and i think both sides, especially the president deserve blame. stuart: who will get the blame? >> the republicans clearly are going to get the blame and hurting themselves. stuart: but we may go into a much slower economy and hurts the president. >> bad news for the president and even worse news for the the american people. stuart: i agree with that. all right, doug, not bad the at all. >> still a democrat. stuart: is that a tag line to every interview? >> it may well be. doug, thanks very much indeed. >> the so the president has made it very, very clear, drawn a line, no fiscal cliff deal without higher tax rates for the highest earningers, tax rates have got to go up. question, what will speaker boehner have to say about that? his reaction will be new at ten this morning. mark stein is going to be here as well and he'll join us to explore that and more. we have an oil and mining deal to tell, but. freeport
stuart: are we going to get a fiscal cliff avoid dan deal? >> we may get some form of a deal. we are not going to get a real deal. i think the economy is going to be hurt and i think both sides, especially the president deserve blame. stuart: who will get the blame? >> the republicans clearly are going to get the blame and hurting themselves. stuart: but we may go into a much slower economy and hurts the president. >> bad news for the president and even worse news for the the...
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it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes. stuart: that's something that the president's absolutely insisting on. he wants tax rates to go up for the top two income brackets and that's being forced by the republicans. they don't want the rate to go up. they'll pay more in overall revenue, but don't want the rate to go up. your comments please on the president's stand-fast position on raising tax rates? >> well, rates are where the real action is, i mean, if you broaden the base and lowered rates, tax revenues on the rich went up. you'd have far less-- and the when you're growing the economy and profession of vobs and output, employment production. stuart:
it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes....
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it depends on how much you think going over the fiscal cliff will affect the economy. others say it will be devastating and others say it will be back. it depends on where you stand when you are making these sort of analyses. megyn: it feels like we are left with the economy -- with people's livelihoods and growth in the country and salaries and unemployment benefits. we are just left. both sides are accusing the other of being the untethered risk taker. last night speaker boehner made remarks demanding leadership on the president. here he is. >> this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adults leadership. megyn: is there a political risk to the president? is there a political risk to him in looking a little too bashful little too smart, as they say, when it comes to this game? >> sure, there are political risks all around for both sides. he saw the president today. he has been doing this and will be doing more of it. trying to clean outside game and put pressure on and make the public put pressure on members of
it depends on how much you think going over the fiscal cliff will affect the economy. others say it will be devastating and others say it will be back. it depends on where you stand when you are making these sort of analyses. megyn: it feels like we are left with the economy -- with people's livelihoods and growth in the country and salaries and unemployment benefits. we are just left. both sides are accusing the other of being the untethered risk taker. last night speaker boehner made remarks...
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Nov 30, 2012
11/12
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. >> greta: we're about to go head first over the fiscal cliff and democrats and republicans are still miles apart. we spoke with gop senator john cornyn about president obama's plans too tax hikes. talking about increasing taxes, letting the tax rate go up on people making over $250,000 a year. as i understand it, that's about $85 billion a year, funding the government for eight days. $85 billion is a lot of money, but if you look at government waste, even senator tom coburn has identified $20 billion in waste. has anybody thought about getting the revenue from waste, seeing just how much we really need? >> the problem has usually been if you rdise taxes, the spending cuts will come later, and they never seem to manifest. >> greta: but not even spending cuts. actually waste. >> well, yeah, waste and fraud and abuse are the famous three horsemen of cuts. but the fact is that many times they're harder to get to it would afternoon. i think tom coburn has done a great service by identifying a lot of duplication and waste in the government, including in the pentagon. i'm a defense hawk, bu
. >> greta: we're about to go head first over the fiscal cliff and democrats and republicans are still miles apart. we spoke with gop senator john cornyn about president obama's plans too tax hikes. talking about increasing taxes, letting the tax rate go up on people making over $250,000 a year. as i understand it, that's about $85 billion a year, funding the government for eight days. $85 billion is a lot of money, but if you look at government waste, even senator tom coburn has...
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Nov 30, 2012
11/12
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you're a shopkeeper in the middle of the country, we go off the fiscal cliff, what does it mean for you? >> we know the economy needs to grow at 3%, probably closer to 4% or better in order to create new jobs, to make up for the increase in population. right now our unemployment rate has been unacceptablebly hi-fi longtime, around 7.9%. unless the economy is growing, you're not creating the jobs necessary to bring the unemployment down. if we go off the cliff, the economy will quit growing as fast, as a matter of fact going into negative growth or recession. a lot of people will be put out of work and no new jobs being created because of the uncertainty of the eoonomy. >> greta: why do you think the president would want us to go off the fiscal cliff? why do we have the brinkmanship? >> he sees this as ultimate leverage. i think he also thinks he got a mandate from the election, which he's mistaken about. we got exactly the same after the election as we had before, which is decided government, which to means the american public trust neither political party to have all the answers. last
you're a shopkeeper in the middle of the country, we go off the fiscal cliff, what does it mean for you? >> we know the economy needs to grow at 3%, probably closer to 4% or better in order to create new jobs, to make up for the increase in population. right now our unemployment rate has been unacceptablebly hi-fi longtime, around 7.9%. unless the economy is growing, you're not creating the jobs necessary to bring the unemployment down. if we go off the cliff, the economy will quit...
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Dec 3, 2012
12/12
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so the question is is the president serious about avoiding the fiscal cliff. we know pain in this country is bad on the economy. it would only broad and deep fn we hit a double dip recession. is the president serious about avoiding that cliff and if not, why not. i think some people are wondering -- megyn: do you think it is a matter of principle for the president? chris fire walt cam -- chris stt with a piece to say it's an ideological commitment on the part of the president to make the rich pay more and to give others more. for him it's an ideological mission to take the money from high income and give to it people who don't have as much. >> i agree with chris he said that. that's what he wants to do. but the curious part to me is you had quite a few lawmakers on the republican side of the isle start t --side of the aisle stao crack. they are willing to come to table and play ball. but the president is on the campaign trail and upping the states with totally ludicrous suggestions and plans like the one if you can call it that, the one he put out last week wh
so the question is is the president serious about avoiding the fiscal cliff. we know pain in this country is bad on the economy. it would only broad and deep fn we hit a double dip recession. is the president serious about avoiding that cliff and if not, why not. i think some people are wondering -- megyn: do you think it is a matter of principle for the president? chris fire walt cam -- chris stt with a piece to say it's an ideological commitment on the part of the president to make the rich...
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Dec 1, 2012
12/12
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he >> heather: lawmakers can reach a deal one month until the economy is set to go off the fiscal cliff. trading fire over looming tax hikes and spending cuts that threaten to plunge the economy into recession. affecting the lives of every single american. hello, everyone. i'm heather childers. welcome to another hour of america's headquarters. >> gregg: i'm gregg gregg jarrett. president obama is promoting his so-called balanced approach. republican leaders say the president's plan leaves the budget talks at a stand still. >> we've got some agreements about the high end tax cuts. republicans don't want to raise taxes on folks like me. i think i can pay a little bit more. >> they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it was not a serious proposal. so right now we're almost nowhere. >> gregg: steve centanni has more. >> the two sides taking verbal pot shots, but not really coming to any kind of agreement adds the clock continues ticking. the president hit the road yesterday using a campaign style appearance in pennsylvani
he >> heather: lawmakers can reach a deal one month until the economy is set to go off the fiscal cliff. trading fire over looming tax hikes and spending cuts that threaten to plunge the economy into recession. affecting the lives of every single american. hello, everyone. i'm heather childers. welcome to another hour of america's headquarters. >> gregg: i'm gregg gregg jarrett. president obama is promoting his so-called balanced approach. republican leaders say the president's plan...
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Nov 30, 2012
11/12
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martha: we were never supposed to get this close to the fiscal cliff. they gave themselves a ton of time to work this out. what would happen to the economy if a deal similar to the president's plan were to go into effect? fox business network stuart varney joins me right now. you listen to nancy pelosi. they made all kinds of painful concessions in order to just even put this first plan out there. melissa: look you put in place a plan like the president has proposed and it is a recipe for real economic trouble, maybe even a recession. martha, just for a second, take the politics out of this. consider where we're starting from. we have 8% unemployment, very slow growth and we have 3.5 billion added every day to our national debt. if you impose this massive tax increase and take away any restraint on the government borrowing of new money you're looking at potential higher unemployment, that the real danger you have runaway borrowing and set up what is called a debt crisis at some point in the future. this plan or anything like it, if it is imposed january
martha: we were never supposed to get this close to the fiscal cliff. they gave themselves a ton of time to work this out. what would happen to the economy if a deal similar to the president's plan were to go into effect? fox business network stuart varney joins me right now. you listen to nancy pelosi. they made all kinds of painful concessions in order to just even put this first plan out there. melissa: look you put in place a plan like the president has proposed and it is a recipe for real...